Jan 2026
Bermuda Insurance Act 1978 and Related Legislation for Commercial Insurers
This is a consolidated version of the Bermuda Insurance Act 1978 and Related Legislation for Commercial Insurers together with related regulations and rules, incorporating all amendments to date.
The most recent legislative update includes:
- Amendments to the Insurance (Prudential Standards) (Class C, Class D and Class E Solvency Requirement) Rules 2011 made by the Insurance (Prudential Standards) (Class C, Class D and Class E Solvency Requirement) Amendment Rules 2025, effective 1 January 2026
- Amendments to the Fifth Schedule to the Bermuda Monetary Authority Amendment Act 2025, effective 1 January 2026
- Amendments to the Insurance Act 1978 and the Fifth Schedule to the Bermuda Monetary Authority Act 1969 made by the Insurance Amendment (No. 2) Act 2025, effective 7 January 2026
The Bermuda Insurance Act 1978 and Related Legislation for Captive Insurers compendium contains consolidated and up-to-date versions of the following:
- Insurance Act 1978
- Insurance Account Rules 2016
- Insurance (Eligible Capital) Rules 2012
- Insurance (Prudential Standards) (Class 4 and Class 3B Solvency Requirement) Rules 2008
- Insurance (Prudential Standards) (Class 3A Solvency Requirement) Rules 2011
- Insurance (Prudential Standards) (Class C, Class D and Class E Solvency Requirement) Rules 2011
- Insurance (Prudential Standards) (Insurance Group Solvency Requirement) Rules 2011
- Insurance (Public Disclosure) Rules 2015
- Insurance (Group Supervision) Rules 2011
- Insurance (Prudential Standards) (Insurance Brokers and Agents Annual Return) Rules 2018
- Bermuda Monetary Authority 1969 (Select provisions – Fees)
- Insurance (Collateralized Insurers) (Statements, Returns, Solvency and Capital) Rules 2020
- Insurance (Insurance Marketplace Providers) (Statutory Financial Return) Rules 2020
- Insurance (Special Purpose Insurers) (Statements, Returns and Solvency Requirement) Rules 2020
- Insurance (Technical Standards) (Class IIGB Insurers) (Solvency Requirement) Rules 2020
- Insurance (Technical Standards) (Class IIGB Insurers) (Statements, Returns, and Capital Solvency) Rules 2020
Consolidated versions of the above Insurance Rules, including the Schedules, as well as Excel spread sheets with the BSCR model for each class of insurer and Bermuda Groups can be found on the Bermuda Monetary Authority website.
Conyers Dill & Pearman
Hamilton, Bermuda
Revised: January 2026